Petrol prices may see major hike from Feb 1
ISLAMABAD: Pakistani consumers may receive another round of relief in Petrol Prices next week as international crude oil prices continue to ease following the recovery of oil supplies through the Strait of Hormuz and improving global market conditions.
According to market analysts, if the current trend in international petroleum prices continues and the rupee remains stable against the US dollar, petrol prices in Pakistan could decline by Rs2 to Rs6 per litre in the next pricing review. However, the final decision will depend on the recommendations of the Oil and Gas Regulatory Authority (OGRA) and approval by the federal government.
| Fuel | Current Price |
|---|---|
| Petrol (MS) | Rs299.50 per litre |
| High-Speed Diesel (HSD) | Rs304.60 per litre |
| Kerosene Oil | Rs194.85 per litre |
| Light Diesel Oil (LDO) | Rs178.20 per litre |
If international oil prices remain at current levels, analysts estimate the following prices:
| Fuel | Current Price | Expected Reduction | Estimated New Price |
|---|---|---|---|
| Petrol | Rs299.50 | Rs2–Rs6 | Rs293.50–Rs297.50 |
| High-Speed Diesel | Rs304.60 | Rs2–Rs5 | Rs299.60–Rs302.60 |
These estimates are unofficial and may change depending on global petroleum product prices, import premiums, exchange rate movements and government taxes.
The federal government is expected to announce the revised petroleum prices after reviewing OGRA’s recommendations. Any reduction will depend on international refined fuel prices, freight costs, the exchange rate and applicable petroleum levies.
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